Co-opbank Pertama allocates RM650 mln to finance for six-month #M4M campaign

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Aug 9 (Bernama) - - Co-opbank Pertama (CBP) has allocated RM650 million to finance the six-month Money4Merdeka (#M4M) campaign which begins on Aug 15.

Chairman Kamari Zaman Juhari said the campaign is aimed at providing opportunities for customers to consolidate their loans commitment by participating in the personal financing with CBP at a low interest rate of 3.9 per cent.

“The consolidation of the commitment will provide greater financial freedom to customers, whereby, the commitment to other financial institutions will be consolidated into one financing account at CBP.

“For the duration of the campaign, every personal financing approved will be eligible for a lucky draw to win an apartment, a sponsored umrah package or tour and a smartphone,’ he told reporters after launching the  #M4M campaign here today.

Meanwhile, chief executive officer Mohd Nor Abd Razak said CBP is expected to reopen its membership within the next six months to one year, depending, on the current business needs that involve personal financing, ar-rahnu, and financing to the corporate sector and cooperatives as a whole.

"The membership has to date recorded 92,000, including individuals and cooperatives throughout Malaysia.

"The decision to accept new members is subject to a study being undertaken and will be known by year-end,” he added.

Mohd Nor said CBP recorded an average membership acceptance of between 4,000 to 5,000 annually, while there was a sudden spike for the first six months of this year at 7,000 members.

"We were forced to freeze the intake of new members in view of the business capital recorded by CBP having exceeded the target set,” he added.

Meanwhile, at the same event, the presentation of prizes for the bonanza and investment campaign was also held for lucky shareholders.

The first prize winner of the bonanza campaign which ran from Sept 1, 2017 to Dec 31, 2018, Azman Mohd Salam, took home a Honda Civic 1.8S.

The winner of the invest campaign, Shahrubaharin Yusoff, bagged a gold bar worth RM10,000 as the highest investor throughout the campaign from Aug 1, 2018 to Dec 31, 2018.

--BERNAMA